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BlackRock, Vanguard Among Fund Giants Flocking to China

  • At least six global money managers have expressed interest
  • CSRC in October brought forward application start deadline
Updated on

Global asset managers are embracing China’s invitation to do more business in one of the world’s fastest-growing financial markets.

At least six firms, including BlackRock Inc. and Vanguard Group Inc., have told regulators they intend to apply for fully-foreign-owned mutual fund licenses, people familiar with the matter said. In October, the China Securities Regulatory Commission said overseas institutions can apply for total control of onshore ventures starting in 2020: applications for futures firms begin Jan. 1; fund management businesses start April 1.